“By providing high-quality, low-cost coverage to renters in these new states and returning unused premiums at the end of the year, we hope to ease some of the financial burdens renters face.” -Chris Lotz, CEO, Goodcover
SAN FRANCISCO (PRWEB)
June 21, 2022
Good coverage, the affordable and modern insurance provider, today announced the launch of its member-focused tenant insurance in three new states: Texas, Arizona and Nevada. With this expansion, Goodcover now reaches one-third of all tenants in the United States. Today, these three states join California in having access to comprehensive renter insurance plans at wholesale prices, with plans starting at $5/month.
“We are excited to add Texas, Arizona and Nevada to our covered states,” said Chris Lotz, CEO and co-founder of Goodcover. “In the past year alone, these communities have faced massive rent increases, severe weather, and higher inflation rates than seen in decades. Renters in these states should know that their insurance will support them – quickly – in an emergency. By providing high-quality, low-cost coverage to renters in these states and returning unused premiums at the end of the year, we hope to ease some of the burden financial situation that tenants face.”
This new expansion is part of Goodcover’s mission to make financial security accessible to everyone by bringing insurance back to its cooperative roots. Designed with today’s renters in mind, Goodcover uses accurate assessments that overcome traditional risk biases – many of which have existed for decades – to ensure they don’t overcharge Goodcover members for cover they don’t need. don’t need. The result is that Goodcover members save money with wholesale priced plans for the right size cover. The Y-Combinator-backed company then aggregates member bonuses, pays claims, and levies a flat fee for operating costs.
Each year, the company returns unused premium funds to the customer through its membership dividend, if any. In 2021, Goodcover paid 1.93% of the premiums collected to its Members. This unique benefit has earned the company loyalty in California; the company’s NPS customer loyalty score is nearly double the industry average.
“Goodcover’s NPS score shows how happy members are with our renewed approach to insurance, and I’m proud of that,” Lotz continued. “There is no shortage of stories and statistics about how people in their mid-20s and 30s are struggling in today’s economy – and that’s especially true for people who don’t own their own. clean house. Goodcover believes the world of finance should make money by serving people, not undermining them, and I think this core belief is key to why members are so happy with our service.
With today’s news, renters in California, Texas, Arizona and Nevada can visit Goodcover’s website, enter their zip code and receive a free quote backed by the company. low price guaranteed.
Goodcover makes fair and modern tenant insurance accessible to everyone. The company uses efficient new technology and accurate risk assessment to offer insurance plans to cooperative tenants starting at $5/month. Goodcover’s cooperative model pays claims quickly and returns all unclaimed funds to members each year through Goodcover’s Member Dividend Program.
A company backed by Y-Combinator, Goodcover’s investors include Goodwater Capital, Fuel Capital, Broadhaven Ventures, Global Founder Capital and Liquid 2. Goodcover’s affordable insurance was launched in 2020 and is currently available in California, Texas, Arizona and Nevada, with plans to expand nationwide. For more information, visit http://www.goodcover.com.
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